Jack Co. reported the following information for 2014:

October November December

Budgeted sales $460,000 $540,000 $440,000

Budgeted purchases $240,000 $256,000 $288,000

All sales are on credit. Customer amounts on account are collected 50% in the month of sale and 50% in the following month. Cost of goods sold is 35% of sales. Jack purchases and pays for merchandise 70% in the month of acquisition and 30% in the following month. Accounts payable is used only for inventory acquisitions. How much cash will Jack receive during November? (Answer: $500,000)